Waddell & Reed Adds Riskalyze Risk Alignment for Its Advisors

Waddell & Reed selected Riskalyze to provide risk alignment at scale to all of its affiliated advisors, the companies said Wednesday.

The enterprise agreement represents the latest technology initiative to be implemented by Waddell & Reed over the past few months, the company pointed out. Riskalyze’s platform of client engagement tools and analytics technology will help Waddell & Reed advisors “enhance their service and align risk metrics with specific client needs and risk tolerances,” the companies said in a joint announcement.

Riskalyze’s platform “integrates well with our expanding technology options as we continually identify new ways to enhance an advisor’s capacity to deepen client relationships,” Matthew Reeves, senior vice president of Waddell & Reed’s Wealth Solutions Group, said in a statement. Reeves noted that the partnership with Riskalyze represented another step in the strategic evolution of Waddell & Reed’s wealth management business, focused on enhancing its advisor experience via technological enhancements, product expansion and broadening support.

As part of Waddell & Reed’s technology initiatives, the company recently launched WaddellONE, a centralized advisor desktop platform available to all its associated financial advisors and associates, Waddell & Reed Financial CEO Phil Sanders told analysts Tuesday on an earnings call for the firm’s second quarter.

WaddellONE provides “direct connectivity to several of the firm’s existing technology partners” and is a “key part of an incremental series of enhancements the wealth management business is implementing over the next year as part of its business administration program,” he said. “Additional components will include enhanced reporting, improved data analytics and a simplified business processing model,” he pointed out.